Redfin

AUGUST 6, 2025

When a home is in escrow, it means the buyer and seller have signed a purchase agreement, and an escrow account has been opened to securely hold the buyer’s earnest money deposit. The escrow account holds the deposit along with important documents like the purchase contract, loan paperwork, and the deed.

Earnest money deposit

Redfin

JUNE 23, 2025

In some states, buyers may also pay due diligence money—a non-refundable fee paid directly to the seller in exchange for this inspection window. While not required everywhere, it’s an important part of the process in certain markets and is separate from the earnest money deposit.

Due diligence

Redfin

JULY 30, 2025

In today’s competitive housing market, it’s not just about the price — it’s about presenting yourself as the most appealing buyer. In addition to getting pre-approved, having cash reserves prepared for your earnest money deposit and other closing expenses is also one of the top tips for making an offer on a house.

Earnest money deposit

Redfin

MARCH 11, 2025

Youre using a no-down-payment loan If youre financing with a VA loan or USDA loan, which dont require a down payment , your entire earnest money deposit can go toward closing costs instead. Example: Youre buying a home with a VA loan, and your earnest money deposit was $5,000.

Earnest money deposit

Redfin

AUGUST 5, 2025

Buying a home can be a stressful, lengthy process, especially if your area is experiencing a seller’s market where there are more buyers looking to purchase than there are homes for sale. This deposit, which is usually around 1% – 3% of the sales price, provides the sellers with security that the buyers won’t back out of the deal.

Earnest money deposit

Redfin

JULY 17, 2025

If you’re selling or buying a home in a competitive market, you might hear the term best and final offer (BAFO) thrown around. Earnest money deposit: A higher deposit signals serious intent and financial stability. Imagine a seller puts their home on the market and gets five offers all at once.

Earnest money deposit

Redfin

JUNE 11, 2025

Sellers may counter with a kick-out clause, which permits them to continue marketing the home and accept backup offers. It allows the seller to continue marketing their property and accept backup offers even after entering into a contract with a buyer.

Purchase and sale agreement

Redfin

JULY 14, 2025

In a competitive market where homes sell quickly, buyers often consider making several offers to boost their chances. Why some buyers consider it In fast-moving markets where bidding wars are the norm, making multiple offers might feel like a way to stay competitive. Maybe it’s a seller’s market and inventory is tight.

Earnest money deposit

Redfin

JUNE 27, 2025

Prioritize agents with strong local market knowledge, a proven history of working with first-time homebuyers, and a compatible working style. But waiting for a house that checks every single box can leave you stuck in an endless search, especially in a competitive market. How much money do I need to buy a home?

Pre-approval

Redfin

JULY 10, 2025

After offer acceptance At the start of the due diligence period Purpose Shows buyer commitment and secures the contract Compensates seller for taking property off the market Applied to purchase? of the purchase price, negotiated between the buyer and seller What is earnest money? What is due diligence? of the purchase price.

Due diligence

Redfin

JULY 11, 2025

If this happens and they’ve included the right contingency, the buyer can usually walk away with their earnest money deposit. In most cases, earnest money becomes non-refundable when the buyer breaches the terms of the contract or backs out for reasons not covered by the agreement. When is earnest money due?

Earnest money deposit

Redfin

JULY 15, 2025

When deciding to accept a home sale contingency, consider market conditions and personal timing preferences. Contingencies are often put in place to protect the seller, with this type of offer more likely to be rejected in a seller’s market. Table of Contents What is a home sale contingency? How does a home sale contingency work?

Home sale contingency

Redfin

MARCH 18, 2025

This deposit is usually between 1% and 3% of the homes purchase price, but the amount can vary based on the local market and the agreement between you and the seller. So, while you dont get a check for the amount you put down, the money is still going toward the home purchase. Youre using a no-down-payment loan.

Closing

Redfin

JULY 9, 2025

The right agent will have expertise on the housing market , understand the area inside and out, be familiar with local listing agents, and know how to negotiate. Ask your agent targeted questions about the property’s history, neighborhood, and market trends. Their insights can reveal hidden pros and cons you might miss. >

Pre-approval

Redfin

JUNE 12, 2025

They received multiple offers In competitive housing markets , sellers can get multiple offers in a single weekend. Strong earnest money deposit: A higher deposit signals you’re serious and financially committed; giving sellers more peace of mind. A long escrow period can be a turn-off.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

After the chaos of the pandemic and a booming seller’s market, 2023 might be a better time to buy a house. A pre-approval letter must be included, and proof of funds can also help in a seller’s market. If your offer is accepted, you will sign a purchase agreement and pay an earnest money deposit.

Purchase and sale agreement

BAM Media

FEBRUARY 21, 2025

Very rarely do people log on thinking, I really hope I learn something about earnest money deposits today! Instead of simply defining earnest money deposits, share a real-life scenario or article of someone losing theirs, and what could have prevented it. Think about why you open Instagram. Tell a story.

Earnest money deposit

Redfin

JUNE 30, 2025

Your buyer’s agent supports you in finding a home, preparing your offer, and negotiating terms, while the seller’s agent manages the listing and marketing for the seller. In competitive markets, this step is crucial as the agent may compare your offer with others. Read: What Does a Real Estate Agent Do?

Earnest money deposit

Redfin

AUGUST 4, 2025

Research the local market Understanding the fair market value of a home is critical. ” Focus on: Sale prices of homes with similar size, age, and features The average price per square foot How long properties are staying on the market Also, look at the broader market trends. .” Don’t ignore market context.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Sometimes they will do so before putting a home on the market so there aren’t any issues when they get an offer on it. Supply and Demand – Know The Condition Of Your Local Real Estate Market Understand The Supply Of Homes Vs. The Demand Of Homes In some locations, the supply of available homes is very small compared to the demand.

Inspection

Redfin

JULY 30, 2025

On top of that, it’s also smart to check your local housing market trends and mortgage interest rates. Your mortgage rate will not change, regardless of market rates rising or falling. Lock in rates: Once you’ve found a good rate, lock it in to protect yourself from market fluctuations.

Pre-approval

Redfin

MARCH 26, 2025

This protective clause in your purchase agreement can save you thousands if your mortgage falls through, but in todays competitive market, some buyers are tempted to waive it. Cash buyers have a significant advantage in a competitive market because they eliminate the risk of financing falling through. You have a strong pre-approval.

Finance

Redfin

AUGUST 5, 2025

Buyers can benefit from the leg up in a competitive housing market, avoid mortgage fees and interest rates and save money in the long run. Reasons to make a cash offer on a house Buying a house with cash is more common in a seller’s market, which means that there is a high demand for an extremely limited pool of homes.

Earnest money deposit

Redfin

MARCH 7, 2025

While the buyer is usually responsible, there are some exceptions, especially if the seller is motivated or the buyer is in a highly competitive market. This typically happens when: In a buyers market : Sellers may be more willing to cover the cost of the home inspection or offer concessions to attract buyers and close the deal.

Inspection

Housing Wire

APRIL 9, 2025

I have even seen non-refundable earnest money deposits, Joe Tamburo, a Bergen County-based Coldwell Banker Realty broker, said. As of early April 2025, the 90-day average number of median days on market was 49 days, well below the 77 days recorded in April of 2021, according to HousingWire Data.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

However, fees for the loans can be higher than a bank and it’s likely that your loan will be sold on the secondary market after closing. It lead to investors snapping up too many homes even as the market started to slow. Not only could a delay cost you your dream home, but also the earnest money you put down on it.

Finance

Housing Wire

JULY 21, 2025

The process includes selecting a home, submitting an earnest money deposit and e-signing of a purchase contract. Century Complete will also introduce its online homebuying platform to Nevada through this project, allowing buyers to purchase homes directly through the company’s website.

Earnest money deposit

Housing Wire

SEPTEMBER 9, 2024

The interviews revealed that buyers in some markets are more open to taking on some of the cost of compensating their agents. While Redfin agents are seeing more negotiations, it’s more common in some markets than others. We’ve found a tale of two markets,” Fairweather said.

Earnest money deposit

Housing Wire

DECEMBER 10, 2020

Rockhold said Texas is a market that JetClosing is committed to due to its demonstrated lead in real estate innovation. Users have access to digital earnest money deposits, online and mobile notarizations, instant remote access to closing documents, and real-time status updates on all open orders from anywhere and at any time.

Earnest money deposit

Housing Wire

OCTOBER 3, 2023

Qualia on Tuesday said the new product provides closing agents with the ability to securely collect and share wire instructions with buyers and sellers, and it features systems for earnest money deposit collection, automated wire matching, wire-sending integrations, wire fraud detection , and seller ID verification.

Earnest money deposit

Housing Wire

SEPTEMBER 14, 2023

If an agent wants to find software to help them market their business, they’ve got over 100 candidates — which means evaluating options, comparing features and identifying exactly what they’re going to need from that software in the long run.

Earnest money deposit

Housing Wire

FEBRUARY 9, 2021

A homebuyer’s guide to a competitive housing market. There’s a chance they may be willing to accept a lower offer on the home — especially if they’ve already moved out, bought another property or it’s a buyer’s market and there’s little demand for the property. But what does it mean for you as the buyer? One more option.

Earnest money deposit

Maximum Exposure Real Estate

AUGUST 3, 2022

When buying a home, the vast majority of the time you will be required to put up earnest money or good faith deposit. The typical earnest money amount is between one to five percent of the purchase price. […].

Earnest money deposit

Housing Wire

SEPTEMBER 25, 2020

And FNF is now expanding its startSafe offerings by allowing consumers to deposit their earnest money through the portal. The company said new features, like the mobile earnest money deposit, make the process of starting a real estate transaction more convenient and safe.

Earnest money deposit

RIS Media

OCTOBER 22, 2020

As the real estate market continues its hot streak, homes are selling faster and receiving more offers than ever before. But if your market is like Bolin’s, where a home can sell within a day of being listed, then you may have to explore some even more proactive options to find your client a home. Finding Homes for Your Clients.

Earnest money deposit

Realtor.com

DECEMBER 3, 2020

Your earnest money deposit was too ‘cheap’ If there’s one part of the offer you shouldn’t cheap out on, it’s the earnest money deposit. And if you need multiple contingencies, that’s fine; but look for a home that’s been on the market for at least 30 days.”.

Earnest money deposit

Easy Agent Pro

SEPTEMBER 5, 2023

In today’s competitive real estate market , bidding wars have become common. Here, we’ll explore several novel yet effective ways of outwitting competition and increasing your chances of successful bidding in competitive markets. Start by researching the current market conditions where you intend to buy a property.

Earnest money deposit